What is trade statistics?
What is the trade statistics?
For dictionary meaning, the trade statistics is the statistics on the exchange of consignment between the given nation and other nation statistics
- Every product which increases or reduces the physical resources of the country by being smuggled (imported) or carried out (exported) to the economic territory of another country is recorded. Items which are simply passing (passing goods), temporarily carried in and out are not included in the trade statistics because they do not increase or decrease the state’s physical resources.
- Trade statistics regions which become the basis are specified from the geographical, administrative and national economic perspectives. The majority of countries including Korea have the Customs Law which refer to the customs area as the territory where the law is applied and trade statistics regions match conceptually. Thus, the exchange statistics of the cargos implemented beyond the area of the customs are called the trade statistics.
Trade statistics from a wider perspective
Trade statistics from a wider perspective refers to the statistics which include all histories of the trade which have passed through the economic territory of the given country including the import/export cargo statistics such as Twenty-four Equivalent Units (TEU), ships(aircrafts) entry and departure and the arrival/departure statistics of the travelers.
Trade statistics from a narrow perspective
Means only the export/import statistics
- Amount statistics can differ in the statistics based on the trade conditions and Korea’s import is based on the CIF amount and the export is calculated based on FOB amount.
- Supply statistics is derived with the weight (kg) as the basis and as for the items which require the total quantity (U), the quantity is calculated as well.
Common trade statistics is the statistics on all products which are physically relocating between South Korea and foreign countries or are scheduled to be relocated, appropriated to the trade statistics.
- Common the basis for completion, which is the trade statistics region are determined from the geographical, administrative and national economic perspectives.
- In case of Korea and most of the countries, the trade territory signifying the area where the Customs Law is applied and the trade statistics regions match conceptually. Thus, the statistics on the exchange of the cargos which occur beyond the customs territory can also be called the trade statistics.
Appropriation principles of statistics
- When the items relocate between countries, bringing the increase or reduction in the domestic resources, it is a rule to appropriate with the trade statistics.
- Trade statistics, by principl, are made based on the “International Merchandise Trade Statistics; Concepts and Definitions (Statistical Papers, Series M, NO52, 1998 Rev 2)"published by the advice of the UN Statistics Committee.
Classification into the import and export countries
- National classification are based on the ISO code classification standard on the trade statistics D and as a rule, the export countries are the countries of final destination and the import countries are the country of origin.
- The representation of the amount will be in U.S. dollar by principle and the export will be based on the the price ex ship (FOB) and import, cost insurance and freight (CIF).
Special trade statistics
- Merchandise statistics(import/export cargo statistics) is the statistics of the consignments leaving for the country by passing through Korea when they arrive (port entry) in Korea to be carried in (imported) or carried out (exported).
Transit trade statistics
- Transit trade statistics refer to the statistics of the items which were originally carried in from the overseas, to be transported to other countries without going through customs in Korea by temporarily landing in the bonded areas or the docks for loading or by being transferred to other means of transportation without landing.
- As for items for transit trades, it is a rule that the shipper is located overseas.
- Transit trade statistics are appropriated on the date of port entry or the departure date.
Intermediate trade statistics
- Intermediate trade statistics refer to the statistics of the items which were imported for the purpose going through the export customs and exported to the third country without being carried into Korea outside the bonded areas according to the stipulations in Article 154 and place permmited for storage outside the bonded area according to the stipulations in Article 156 of the Customs Law.
- As for the intermediate trade items, it is a rule that the shipper is located in Korea.
Standards for completition and methods
Basic principles and commodities classification
- Basic principles: Korea also uses UN’s concept and principles of international trade statistics used as the international index. Trade statistics include the movement of items which pass through the boundaries which increase the amount of resources for Korea.
- Commodities classification: HSK is used to classfy the items for import and export.
Scope of data
- Scope of appropriation: The following transactions are exempted from the trade statistics
- Items carried into and out of the bonded sales area
- Items which are traded
- Returned items before the acceptance of the import declaration.
- Gold, silver, securities, monetary coins and paper money currently being used
- ATA Carnet items
- Items carried in or smuggled for inspection or repair purpose
- Items temporarily imported and exported for the international events, competitions and exhibitions
- Diplomat’s items
- Leased items for less than a year
- Items for commercial samples or advertisements
- Items generally unrelated to trade
- Regional scope: Items carried in and out of North Korea are exempted from the trade statistics
Standards related to amount
- Conversion of currency : The Customs Commissioner converts the currency of each country into won accordindg to the exchange rate announced every week and the amount in won will be converted to US $ and that amount will be applied for the import/export declaration.
- Amount standard: As for the amount standard, the import will be based on CIF and export, FOB. The valuation of the amount for the import declaration will be following WTO Convention.
Characteristics of the basic materials
- Source of data: Trade statistics are based on the customs clearance data and the case study or the collection of views will not be taken into consideration for the trade statistics.
- Forms of collected data: This refers to the list of import/export declarations made by the customs collector or the shipper through EDI/Internet system based on the information specified by the Customs Law including the properties of the items such as the quantity, weight, price, country of origin/destination country and etc.
- National standard of the materials: Exports place the basis in the destination country and the import, the country of origin.
Editing of materials
- Declaration procedures and the announcement time: Materials for the import and export declaration are stored in the main computer of the KCS and transferred to the allotment system every month. An allotment system is designed to produce various statistics every month. When the accuracy of the data is confirmed, monthly data are announced to the citizens in the middle of the following year. The annual data are announced fifty days later.
- Time for appropriation: When the import/export declarations are accepted at the customs, the import/export items are appropriated to the trade statistics.
- Error correction: Checking the errors in the entered data are done using the average unit price per HSK. With this method, the data with errors are collected and checked. The data confirmed as errors are corrected before presenting the statistics by month/year through the error correction system.
- Security: When the presentation of the trade statistics violates the regulations related to the confidentiality of individuals or companies, the presentation of the data of detailed statistics will be limited.
- Data adjustment: The confirmed trade statistics will not be adjusted.